Full Form of EPC:
Engineering Procurement Construction
EPC Full Form is Engineering Procurement Construction. EPC is a common, prominent, and valid form of preparing an agreement for large-scale projects in various industries that are related to construction. In this agreement, a head contractor is selected by the client. The contractor is selected on certain specifications and specializations according to the needs of the project. The contract is usually prepared on the agreed terms mentioned in the discussion and written agreement at the presence of the team of the EPC contractor and the Project Management Team on behalf of the client.
Then the contractor has to prepare the engineering design, procure all required material and relevant equipment, carry out the construction activity. This agreement usually mentions specific budget and time-limit for the completion of the project. The budget is often referred to as LSTK (Lump Sum Turn Key). Once agreeing to the contract, the EPC contractor has to follow the time limit and keep the expenses within the budget.
If a contractor completes the project according to the mentioned parameters of the agreement, his credibility, and acceptability, as a potent contractor, immensely increases. Generally, an EPC contractor does not take the responsibility of the whole construction upon himself. Rather he engages subcontractors for the actual construction work. But, he solely performs the tasks related to the survey of sites, preparation of sites, designing the project technically, getting permissions from relevant authorities etc. EPC contractors are in huge demand in industries related to resources, infrastructure, energy utilization, mining etc.
EPC Full Form – Electronic Product Code
Full Form of EPC refers to Electronic Product Code. An Electronic Product Code is an identifier that provides a unique identity to an object or specific product universally. It is designed to differentiate a specific product by creating unique identity amongst all other objects and similar category products in similar lines across the globe. EPCs are unique numbers encoded on RFID tags that are used to track different types of objects such as reusable transport items, documents, trade items or fixed assets.
EPC can be constructed based on linear and two-dimensional bar codes. The EPC is a flexible framework that supports many existing coding schemes including that using bar-code technology.The EPC distinguishes two identical products; an EPC provides information about a specific productâ€™s manufacture like the date of manufacturing, place of manufacturing, batch number of the product etc. GS1 division of EPC global manages the standardization and application of EPC.
EPCglobal has designed EPCglobal Architecture Framework (EPCAF) a collection of software &data standards. The EPC is fabricated to fulfill the requirements of vivid industries sectors and assure uniqueness for all EPC-compliant tags. Some active GS1 classification keys such as the Global Returnable Asset Identifier (GRAI)) enable unique identification of individual objects.
The Global Trade Item Number only recognizes the type of product & not an individual product type. EPC always uniquely identifies an individual physical object with a unique serial number. EPC has existing coding schemes and develops new schemes as and when required.Each coding scheme within the EPC framework is distinguished through a separate namespace. However, EPC can never replace plain text or bar-code technology.